Plastic manufacturers want reduction of import duty on raw materials
The leaders of Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) today demanded that the government reduce the existing import duty on raw materials of plastic products to five percent from the existing 10 percent.
BPGMEA president Md Jashim Uddin made the demand at a pre-budget meeting with the National Board of Revenue (NBR) for the next fiscal year held at the NBR conference room in the city's Sher-e-Bangla Nagar.
NBR Chairman Abu Hena Md Rahmatul Muneem chaired the meeting.
Seeking protective measures for local industries, Jashim said the demand of various plastic goods like pipes, doors, chairs, tables are on the rise both at home and abroad while a huge scope for exports would be created if the production cost could be reduced.
He said the raw materials of such plastic products like pvc stabiliser, stearic acid, polyethylene wax and transfer paper are totally import-dependent.
"Export of plastic goods can be increased manifold if duty on import of its raw materials could be reduced to 5 percent from the existing 10 percent," he added.
The BPGMEA president also demanded imposition of 25 percent duty on import of plastic boxes, snack boxes, bags, trays, tables and kitchen appliances and alsko to take steps to stop import of such items through imposing advance tax and supplementary duty to protect the local industries.
Meanwhile, another delegation of the Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), led by its president A Abdul Kader Khan, held a pre-budget discussion with the NBR.
Tthe BGAPMEA leaders demanded of the government to reduce the existing tax at source to 0.25 percent from the existing 0.5 percent.
Besides, it also demanded reduction of its corporate tax to 12 percent from the existing 32.5 percent.
Comments